Right now Americans have an opportunity to seek and enroll in more affordable health insurance plans even if they are already paying a very low premium or no premium for their health insurance coverage. The passage of the American Rescue Plan was an effort to make health insurance coverage more affordable. That means as of April 1, enrollees may update their marketplace applications and enrollments in order to get new eligibility results. You may find plans with more generous cost-sharing and lower out-of-pocket costs. The American Rescue Plan (ARP), President Joe Biden’s $1.9 trillion COVID-19 relief deal, will impact health insurance for individuals and families in some key ways. On the surface, the ARP increases and expands eligibility for Affordable Care Act premium subsidies for people enrolled in Marketplace health insurance plans. This will help more than a million uninsured Americans gain coverage, according to the White House. The new law also lowers premiums for most of the millions of Americans who currently have a Marketplace health insurance plan. Here’s an example. A family of four making $90,000 could see their monthly premium decrease by $200. Premium subsidies are substantially enhanced for people at every income level. On average, premiums will decrease by $50 per person per month. Health insurance applicants making more than 400% FPL can also qualify. The greatest impact will be felt among those people seeking health insurance coverage who are more than 60 years old. Their premiums are higher than those of people in their 20’s and 30’s. The American Rescue Plan enhancements are effective during 2021 and 2022. The deadline to enroll during this special enrollment period is May 15. If current enrollees don’t take action, they’ll still receive the additional benefit as part of their premium tax credit when filing their federal income tax return next year. The team at Benefit Concepts is ready to help you find and enroll in the best health insurance coverage available. Our services are free and our team is uniquely trained to help you navigate this process whether you are looking to lower your health insurance premiums or enroll in new coverage.